Gelonghui, January 30, 丨 Beijing Beichen Industrial Co., Ltd. (00588.HK) issued an announcement. According to preliminary estimates by the company's finance department, the expected profit attributable to company owners in 2023 (excluding profit and loss from changes in the fair value of investment real estate) is RMB 259.31 million to RMB 286.31 million. Compared with losses attributable to the same period last year, it will turn a loss into a profit. (ii) It is estimated that the company's profit attributable to company owners in 2023, excluding profit and loss from changes in the fair value of investment real estate and excluding non-recurring profit and loss, is RMB 179.31 million to RMB 186.31 million. Compared with losses due for the same period last year, it will turn a loss into a profit. (iii) The estimated cash balance at the end of the period is approximately RMB 9.4 billion. The company has sufficient capital reserves, smooth financing channels, and safe operation.
During the reporting period, the company's exhibition (including hotels) and commercial properties seized market opportunities and improved operating capacity, and the rental rate of the conference, exhibition and hotel business continued to increase. At the same time, the real estate development business was affected by the settlement cycle, the settlement area increased, and settlement products changed, so the profit attributable to the company's owners during the reporting period (excluding profit and loss from changes in the fair value of investment real estate) turned loss into profit.